Midland States Bancorp, Inc. (NASDAQ:MSBI) Receives Average Recommendation of “Hold” from Analysts

Midland States Bancorp, Inc. (NASDAQ:MSBI) has been given an average recommendation of “Hold” by the six brokerages that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $23.90.

Several brokerages have issued reports on MSBI. Wall Street Zen upgraded Midland States Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Piper Sandler raised their target price on Midland States Bancorp from $25.50 to $28.00 and gave the company a “neutral” rating in a report on Monday, April 27th. DA Davidson raised their target price on Midland States Bancorp from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Zacks Research upgraded Midland States Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings upgraded Midland States Bancorp from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 4th.

Insider Buying and Selling at Midland States Bancorp

In other Midland States Bancorp news, Director Travis Franklin acquired 9,400 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was bought at an average price of $26.49 per share, with a total value of $249,006.00. Following the completion of the purchase, the director owned 9,400 shares of the company’s stock, valued at approximately $249,006. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 8.57% of the company’s stock.

Institutional Investors Weigh In On Midland States Bancorp

Several hedge funds have recently added to or reduced their stakes in the company. Rhino Investment Partners Inc lifted its stake in Midland States Bancorp by 22.5% during the first quarter. Rhino Investment Partners Inc now owns 320,288 shares of the financial services provider’s stock worth $7,146,000 after purchasing an additional 58,754 shares during the last quarter. Empowered Funds LLC lifted its stake in Midland States Bancorp by 43.3% during the first quarter. Empowered Funds LLC now owns 96,686 shares of the financial services provider’s stock worth $2,157,000 after purchasing an additional 29,214 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Midland States Bancorp by 26.9% during the first quarter. Quantinno Capital Management LP now owns 54,635 shares of the financial services provider’s stock worth $1,219,000 after purchasing an additional 11,582 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Midland States Bancorp by 9.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 198,525 shares of the financial services provider’s stock worth $4,429,000 after purchasing an additional 16,637 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Midland States Bancorp by 163.0% in the 1st quarter. Sei Investments Co. now owns 38,076 shares of the financial services provider’s stock valued at $849,000 after acquiring an additional 23,600 shares during the last quarter. Institutional investors own 60.93% of the company’s stock.

Midland States Bancorp Trading Up 0.2%

Shares of MSBI stock opened at $27.63 on Friday. The stock has a 50-day moving average of $24.21 and a 200-day moving average of $21.90. Midland States Bancorp has a 1-year low of $14.24 and a 1-year high of $28.53. The stock has a market cap of $572.77 million, a price-to-earnings ratio of 23.42 and a beta of 0.66. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.71.

Midland States Bancorp (NASDAQ:MSBI) last released its earnings results on Thursday, April 23rd. The financial services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.60 by $0.19. Midland States Bancorp had a return on equity of 11.55% and a net margin of 7.53%.The business had revenue of $81.10 million during the quarter, compared to analysts’ expectations of $75.59 million. On average, equities research analysts forecast that Midland States Bancorp will post 3.17 earnings per share for the current year.

Midland States Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 15th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Friday, May 15th. Midland States Bancorp’s dividend payout ratio (DPR) is currently 108.47%.

Midland States Bancorp announced that its board has initiated a share buyback program on Wednesday, May 6th that permits the company to repurchase $45.00 million in shares. This repurchase authorization permits the financial services provider to purchase up to 8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Midland States Bancorp Company Profile

Midland States Bancorp, Inc is a bank holding company headquartered in Effingham, Illinois, that oversees Midland States Bank, a community-focused financial institution. Through its subsidiary, the company provides a full range of commercial and retail banking services designed to meet the needs of individuals, small and mid-sized businesses, and nonprofit organizations. Its branch network spans key markets in Illinois, Missouri and Florida, where it emphasizes relationship-driven banking and local decision-making.

The company’s offerings include traditional deposit accounts, business and commercial lending, treasury and cash management services, mortgage financing and home equity products.